According to people familiar with the situation, Chinese refiners are paying for Russian crude oil via cash transfers to sustain imports from Russia's Fast East, since banks are unable to finance the oil due to sanctions.
Banks stopped funding Russian oil when the US and other nations increased sanctions against Moscow following its invasion of Ukraine, sending global oil prices LCOc1 to new highs.
Buyers' prices in....
Tags : LCOc1, Russia, China, Oil Tankers, ESPO, Payment ,
comments (0)